The chart shows the four leg-down with their retracements.
In the first retracement is labelled the bull trap it occurred when the price exceeded the 0.618%
The current leg-down is still developing
In the first retracement is labelled the bull trap it occurred when the price exceeded the 0.618%
The current leg-down is still developing
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Descending Triangle And key levels in the short term S/R (green line/red line)
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The price is testing the triangle's base for third time
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$600k is holding, for now, but every test makes weaker the support
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The support ($6000) still holding
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Commented on August 9th.
Using the tool Trend-Based Fib Extension to project the end point of the current leg down two possible points appears (labelled with a green flag)
0.618% 5889,5
0.786% 5178
Using the tool Trend-Based Fib Extension to project the end point of the current leg down two possible points appears (labelled with a green flag)
0.618% 5889,5
0.786% 5178
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The most relevant patterns
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Fibonacci retracement
0.618% 5889,5
0.786% 5178